Page 286 - ALEF EDUCATION PR REPORT - JUNE 2024

Alef Education is set to get listed on the main market of ADX on 12th June

2024, with the first tranche offer period to end on 4th June 2024, and second
tranche offer to close on 5th June 2024. However, the Company announced
on Friday that it plans to increase the number of shares offered to the first
tranche to 140 million, from 112 million. “This underscores the increased

interest from institutional investors in the company’s stock, which signals
confidence in the IPO and the company’s future performance in the market,”
Vijay Valecha, chief investment officer, Century Financial, said.

Saudi Arabia takes the lead in emerging debt market:

The Saudi government has achieved a significant milestone by successfully

issuing $5 billion in sovereign sukuks, which has garnered remarkable
investor demand exceeding $20 billion. This exceptional response
underscores high confidence in the Saudi economy. Notably, this issuance
stands out for its innovative three-tranche structure, with maturities set for
2027, 2030, and 2034, marking a first for the Kingdom. By adopting this multi-

tranche approach, Saudi Arabia aims to broaden its funding base beyond
conventional channels, thereby reinforcing its foothold in global debt
markets. This strategic move not only diversifies funding sources but also

bolsters the country’s financial standing on the international stage. The
issuance is part of Saudi Arabia’s ambitious goal to secure a total of $37 billion
in funding this year. “With these funds, Saudi Arabia is poised to accelerate
progress on critical projects, paving the way for sustainable growth and
development in line with its visionary economic objectives,” Valecha said.

ADVERTISING
High demand for Aramco 12 billion stock offer:

Saudi Aramco’s stock saw increased activity on Sunday as the $12 billion share
sale was rapidly fully subscribed, marking one of the largest share sales
globally since the company’s listing. The proceeds from the sale will support
Saudi Arabia’s efforts to diversify its economy, focusing on sectors such as

artificial intelligence, sports, tourism, and flagship projects like Neom.

https://www.khaleejtimes.com/business/personal-finance/equities-debt-market-to-boost-gcc-
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